Global consumer-focused investment firm L Catterton has entered into an agreement to invest in Nandhana Foods, a leading restaurant group specializing in South Indian cuisine. The size of this investment was not disclosed.
According to an official statement, this investment is intended to support the next stage of Nandhana Foods' development and will allow the group to achieve greater scale by leveraging L Catterton's industry experience and operational capabilities.
L Catterton partner Vikram Kumaraswamy noted that the founders of Nandhana Foods have created a unique and scalable business with a strong consumer offering and attractive unit economics. He emphasized that the company has been expanding its business in a disciplined manner while maintaining high quality and stability across its restaurants.
Vikram Kumaraswamy also expressed confidence in significant potential for further growth, which can be achieved by deepening and expanding the company's presence in South India, as well as entering other markets, noting a clear path for cautious expansion.
Nandhana Foods was founded in 2004 and specializes in Andhra and Karnataka cuisines. Currently, the group operates two brands—Nandhana Palace and RNR—and has 25 outlets in the cities of Bengaluru and Chennai.
The founder and CEO of Nandhana Foods, R Ravichandar, expressed satisfaction with the partnership with L Catterton, which has experience creating value for its portfolio companies globally. He noted the firm's deep understanding of the company's organizational structure and detailed knowledge of the restaurant industry.
The statement also indicated that L Catterton possesses extensive experience in building international restaurant brands. To date, the firm has invested in approximately 30 restaurant enterprises. Among its current and past portfolio companies are Dishoom, P.F. Chang’s, Velvet Taco, Baja Fresh, Cheddar’s Scratch Kitchen, Cigierre, HUGE, Impresario, and Mendocino Farms.
Founded in 1989, L Catterton manages a capital of approximately $40 billion USD, distributed across multi-product platforms dedicated to private equity, lending, and real estate. The firm has made over 300 investments in consumer brands worldwide.
